Question

Find

(a) the amount of mark-up and

(b) the list price.

The Auto Resale Store bought Pablo’s Toyota for $8,500. They marked the price up 35%.

Short answer

(a) Mark-up= $2,975

(b) list price= $5525

Step-by-step solution

Part (a) Step 1. Given

$$\begin{gathered} Price=8500\$ \\ Priceup=35\% \end{gathered}$$

Part (a) Step 2. Calculation

$$\begin{gathered} Markupis35\%oforiginalprice. \\ =\frac{35}{100}\times 8500 \\ =2975 \end{gathered}$$

Part (b) Step 1. Calculation

$$\begin{gathered} listprice=OriginalPrice-MarkupPrice \\ =8500-2975 \\ =5525 \end{gathered}$$